NeoGenomics: 4Q Earnings Snapshot

February 19, 2019

FORT MYERS, Fla. (AP) _ NeoGenomics Inc. (NEO) on Tuesday reported fourth-quarter profit of $353,000.

The Fort Myers, Florida-based company said it had net income of less than 1 cent on a per-share basis. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were 6 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The operator of cancer-focused testing laboratories posted revenue of $76.5 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $70.4 million.

For the year, the company reported net income of $2.6 million, or 7 cents per share, swinging to a profit in the period. Revenue was reported as $276.7 million.

NeoGenomics expects full-year revenue in the range of $379 million to $395 million.

NeoGenomics shares have increased 40 percent since the beginning of the year. The stock has more than doubled in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NEO at https://www.zacks.com/ap/NEO